Day: March 26, 2014

Bacanora Provides Update on Rare Earth Minerals Joint Venture Agreement

BACANORA MINERALS LTD. announced today that Rare Earth Minerals, Plc has satisfied all conditions under the terms of the joint venture agreement between Bacanora and REM in respect of the San Gabriel, Buenavista and Megalit concessions (details of which are set out in the Company’s press release dated March 12, 2014) to earn a 10% interest in the subsidiary that will hold the Concessions (Minera Megalit S.A. de C.V.). In particular, REM has provided the Company with an upfront cash payment of $250,000, together with a further $500,000, which has been allocated towards exploration and drilling on the Concessions. With this condition having been satisfied, the Concessions are now in the process of being transferred to Minera Megalit S.A. de C.V., following which shares therein will be issued to REM.

Aura Minerals Announces Year End 2013 Financial and Operating Results

•Operating cash flow1 of $66,847 for the year ended December 31, 2013 compared to $38,317 for the year ended December 31, 2012;
•Net sales revenue for 2013 increased by 8% over 2012. Gold sales and copper concentrate sales revenues increased by 7% and 11% over 2012, respectively;
•Gold ounce (“oz”) production for 2013 was 19% higher than in the prior year and Aranzazu’s copper production for the years ended December 31, 2013 and 2012 was 13,615,949 pounds and 10,980,100 pounds, respectively, an increase of 24%;

Gold Resource Corporation Declares March Monthly Dividend

Gold Resource Corporation declares its monthly instituted dividend of 0.01 per common share for March 2014 payable on April 23, 2014 to shareholders of record as of April 11, 2014. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico.

Endeavour Silver Corp (NYSE:EXK) Reports Decrease In Its Gold And Silver Proven Reserves

Endeavour Silver Corp last month shared its latest National Instrument 43-101(NI 43-101) silver and gold reserve and resource estimates for its silver producing mines in Mexico as of 2013 end. The company’s management anticipating metal prices will likely be higher in the medium and longer terms the price tagged were 10% higher at US$1452 per oz gold and $24.20 per oz silver for the resource estimates. During 2013, the company’s Silver Proven and Probable Reserves were 11.6 million ounces witnessing a decrease of 50%. Gold Proven and Probable Reserves saw a dip by 37% reporting at 139,400 ounces. Silver Equivalent Proven and Probable Reserves reduced by 41% to 25.9 million oz. Silver Measured and Indicated Resources increased by 4% at 60.7 million oz. Gold Measured and Indicated Resources went up 6% to 556,300 oz. Silver Inferred Resources decreased by 13% to 40.6 million oz. Gold Inferred Resources also dipped by 15% to 396,320 oz. According to the company’s CEO Bradford Cooke, CEO, due to low precious metal prices, Reserve and resource growth impacted company’s operational and financial results.

Primero Announces Closing of Secondary Offering by Goldcorp Inc.

Primero Mining Corp. announced today that it has closed the previously announced secondary offering of Primero shares held by Goldcorp Inc. A total of 31,151,200 Primero common shares held by Goldcorp were sold at an offering price of C$7.20 per share. The Offering was completed through a syndicate of underwriters led by Canaccord Genuity Corp. and including CIBC World Markets Inc., GMP Securities L.P., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.

Goldcorp Completes Sale of Primero Shares

Goldcorp Inc. is pleased to announce that it has completed the previously announced secondary offering of 31,151,200 Common Shares of Primero Mining Corp. at a price of C$7.20 per share for gross proceeds to Goldcorp of approximately C$224 million. The underwriting syndicate was led by Canaccord Genuity Corp. and included CIBC World Markets Inc., GMP Securities L.P., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc. Goldcorp no longer owns any shares of Primero. Primero did not receive any proceeds from the offering.

American Consolidated Minerals Corp.

American Consolidated Minerals Corporation announces that it has arranged a non-brokered private placement of up to 20,000,000 units at a price of $0.05 per Unit for gross proceeds of up to $1,000,000.

Freyja Receives Drilling Permit for Las Cristinas Property in Mexico

Freyja Resources Inc. announced today that it has received a drilling permit from the Secretary of the Ministry of Environmental and Natural Resources of Mexico. The Permit covers areas of the Las Cristinas Property where drilling operations will not impact vegetation.

Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.

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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.